Wednesday, July 02, 2008

Fastracks West Corridor : 40% Higher Cost And Less Than Promised

As mentioned previously, the West Corridor for RTD's Fastracks is being stripped to the bone. They're single tracking part of the line, building smaller stations, building lines that will require more ongoing maintenance after storms, putting riders at risk in delaying security measures and a slew of other less-than originally promised features.

RTD has locked in contracts for the line so that it will end up costing about 40% more than they told the voters it would.

The Regional Transportation District board approved a higher budget for the West Corridor light rail line through Denver, Lakewood and Golden, locked in contract prices and authorized start of work under two construction deals.

11.5 percent budget increase would take the project from $634.7 million to $707.6 million.

$338.7 million is the contract figure with Denver Transit Construction Group. A $62.6 million contract is with Balfour Beatty. They are so-called Guaranteed Maximum Price deals, under which the contractors bear the responsibility for future cost increases.

* The only exception is that RTD has agreed to provide up to $5 million to cover some increases in construction material costs that Denver Transit Construction Group might encounter.